During the epidemic, funds were under pressure. Where did the listed tourism companies “find money”?
The new coronary pneumonia epidemic has had a huge impact on the domestic tourism industry.At present, although the scenic spots in various regions have begun to resume production in an orderly manner, the tourism industry has not yet ushered in a full recovery.Under this background, the capital problem of tourism enterprises has become the focus of attention.In response to this challenge, listed tourism companies began to “cross the sea with eight immortals and show their magical powers”.Sante Ropeway: The funds raised from the non-public issuance of A shares were affected by the new coronary pneumonia epidemic. After Wuhan Sante Ropeway Group Co., Ltd. was suspended, the related scenic spots began to resume operations on February 22.In order to cope with the challenges brought by the epidemic to the company’s operation, on March 15, Sante Ropeway issued a plan for the non-public issuance of A shares in 2020, with a planned raise of no more than 3.US $ 9.1 billion in capital to optimize the company ‘s capital structure, supplement working capital, and reduce the adverse impact of the new coronary pneumonia epidemic on the company.The announcement shows that the number of non-public issuance of shares of Sande Ropeway does not exceed 41.6 million shares, accounting for 30% of the total share capital before the issuance, all of which are subscribed in cash by Sande Ropeway controlling shareholder Wuhan Contemporary Urban Construction Development Co., Ltd.After deducting the issuance expenses, the raised funds will be used to repay bank loans and supplement working capital.Three special ropeway said that during the outbreak of the new coronary pneumonia, the company’s business operations have been adversely affected.At present, Sante Ropeway is developing various direct financing channels, applying for government subsidies and other policy funds, and communicating with relevant parties on alternatives such as tax reductions, management fees, and financial institution policy support.It is understood that after the fund-raising is in place, the working capital pressure of Sante Ropeway will be effectively alleviated.At the same time, by repaying bank borrowings, the company’s asset-liability ratio will be reduced, which will help reduce operational risks and financial risks, and enhance the ability to continue operations.Songcheng Performing Arts, Qujiang Cultural Tourism: Government subsidies face the adverse effects of the epidemic, and government subsidies have become a strong support for tourism companies to ease the pressure on funds.At present, Songcheng Performing Arts Development Co., Ltd. (hereinafter referred to as “Songcheng Performing Arts”) and Xi’an Qujiang Cultural Tourism Co., Ltd. (hereinafter referred to as “Qujiang Cultural Tourism”) have all issued announcements announcing that they have received government subsidies.The tourism performing arts projects belonging to Songcheng Performing Arts have all been closed since January 24, and no announcement has been issued to resume operations.On February 24, the wholly-owned subsidiary of Songcheng Performers, Sanya Eternal Love Tourism Performing Arts Co., Ltd., has received the first batch of tourism enterprises to reduce the burden of subsidies, a total of 828.50,000 yuan.On February 28, Songcheng Performing Arts received support funds of 14 million yuan from the special contribution enterprise of Hangzhou West Lake District in 2019.Songcheng Performing Arts stated that it will effectively use government subsidy funds to continuously contribute to the development of Hangzhou’s tourism industry, and gradually improve the quality of Sanya’s love affairs during the period of closing the park to prepare for the recovery of the tourism market after the epidemic.On February 17, Qujiang Cultural Tourism issued an announcement to obtain government subsidies.From January 1, 2020 to the announcement day, Qujiang Cultural Tourism received a total of 618 government subsidies.60,000 yuan.Among them, Xi’an Qujiang Daming Palace National Heritage Park Management Co., Ltd., a subsidiary of Qujiang Cultural Tourism, received 5 million yuan in support funds for the first quarter of 2020 and a special saving of 890,000 yuan in the development of cultural industries.At present, the Datang Furong Garden Scenic Area, Xi’an City Wall Scenic Area, Louguandao Cultural Exhibition Area, etc., operated and managed by Qujiang Cultural Hotel, have been restored to the outside world in an orderly manner from February 29, and the open attractions have been opened on February 21.It has been reopened.Tianmu Lake, Fosun Travel News: The issue of convertible bonds, in addition to the immediate response measures taken during the epidemic, CMBS also has convertible bonds for some tourism companies, and CMBS (commercial real estate mortgage-backed securities) has also been in the near futureThe internal landing gave the company a “heart-prick” to deal with the impact of the epidemic.In March 2019, Jiangsu Tianmu Lake Tourism Co., Ltd. (hereinafter referred to as “Tianmu Lake”) issued a plan for the public issuance of convertible corporate bonds.In January 2020, Tianmu Lake’s issue of convertible bonds was approved by the CSRC.Subsequently, on February 26, Tianmu Lake issued a convertible bond issuance announcement, with a total issuance of 3 million and a number of issuance of 300,000 lots, with a duration of 6 years.According to the announcement, all funds raised by Tianmu Lake will be invested in Nanshan Xiaozhai Phase II Project and Yushui Hot Spring (Phase I) Renovation Project.Among them, the specific construction content of the second phase of Nanshan Xiaozhai project includes themed hotels, characteristic workshops, academies, tea houses, etc. After completion, it will form hotels, catering, folk customs and non-legacy cultural experience and other formats.Tianmu Lake said that the construction and renovation of related projects will help increase the company’s operating income and improve the company’s profitability.At present, the subscription of this convertible bond has been completed.On March 22, Fosun Tourism and Culture Group (hereinafter referred to as “Fosun Travel”) announced that it has successfully issued the Debon Haitong-Fosun Travel-Sanya Atlantis Asset Support Special Plan, with a total amount of funds raised of70.01 million yuan, which is also the country’s first single tourist destination CMBS.According to the announcement, Fosun Lvwen has obtained a no-objection letter from the Shanghai Stock Exchange in November 2019, with 100% equity of Hainan Atlantis Business Travel Development Co., Ltd., a subsidiary of Sanya Atlantis, and Sanya AtlantisSri Lanka’s operating income and accounts receivable are used as pledges to issue CMBS.According to the plan, about 2.9 billion U.S. dollars will be repaid from the current bank loan in Sanya Atlantis, and other funds will be used for the development of the group’s business.As of the end of 2019, Fosun Travel has cash and cash equivalents of approximately 2.1 billion, and the bank’s credit line has 2.5 billion unused.At completion 70.After the release of 01 ppm CMBS, Fosun Travel said that it gave the company sufficient funds to develop its business and seize the potential opportunities after the outbreak.Sauna, Ye Wang Zheng Yijia proofreading Li Ming picture Tianmu Lake official website screenshot